The Study Of Income Method Model In Enterprise Value Appraisal In Our Country

The enterprise value appraisal pays attention to the enterprise's future earning capacity. Although we still have certain disparity with the developed country at present on the market consummation degree and the gaining market parameter, but this did not mean it impossible to use the international general value appraisal analysis method. Income method will be our country enterprise value appraisal tendency. Profiting from the international income method application experience, gradually consummating it in our country application, is extremely urgent and essential." The study of Income method Model in Enterprise Value Appraisal in Our country " is the research of the income method model in enterprise value appraisal application in our country. The article has first analyzed the superiority of our country enterprise value appraisal using income method. At present our country still use the cost method primarily, the income method only is used as auxiliary. But along with our country property transaction being more and more active, the demand of enterprise value appraisal growing, the cost method is unsuitable for society developed demand, the market method application condition could not be satisfied. So income method will be used in appraising the enterprise value. At the same time society will pay more attention to it.Then the article has thoroughly studied income method model and its questions in the application. It has analyzed the enterprise value appraisal connotation under the income law as well as its targets factor and formula. Now the weighting annuity method and the stepwise method are used. These two methods can be unified as one formula, only the forever annuity is different. Their emphasis points are different, but all have the insufficiency. This article synthesizes these two methods and makes the improvement, not only retains their merits but also overcomes the shortcomings. It also has analyzed the flaw of discount rate in our country enterprise value appraisal, and proposes using market data to compute professional net cash flow to the market price, after adjustment to using as discount rate.Finally the article points out that because the understanding and the idea of enterprise value is different, the domestic information is hardly received, the factors of income method are difficult to forecast, lacks talented person who can skilled in using the income method, some appraisals report are questioned for its low quality, the income method in our country is less used. In the practical application, the forecast of income volume, discount rate and the income fixed date possibly appears some technical questions. This article proposes the corresponding guard measure to these questions. To the application of income method, thorough reconsidering is urgently needed. We should further affirm the practical significance of income method theoretically, at the same time must revise the standard, the criterion content and the standard which can not be able to solve the questions, speeds up the fundamental research of the selection of income law appraisal parameter.